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>> you don't have to do a, quote, "tax in connection -- "tax increase". you're not doing a tax increase. getting $6 billion out of ethanol, and grover calls that a tax increase. neil: you think the time came to face the american people, tell them this sort of thing that we're up against romney exploited so cautiously. some think it's too late for that. do you buy that? >> no, i don't. everything can change in 30 days. you've watchedded this stuff. you know how it is. they say republicans carry the senate, and three days later, they lost it. the real rate of growth will be 3.1 this year, but it's 1.5. i never have seen a statistic right. in the volatility, they are waiting for someone to make a gaffe, and the gaffes are important, by people are listening. neil: let me ask you, senator, there is this end of the year train wreck you talk about. you warned about it always. the sequestering cuts that kick in, bush rates expire,atm issues, medicare issues, payroll tax issues, all at the same time. matter who is elected, they table this for six months whether it
>> you don't have to do a, quote, "tax in connection -- "tax increase". you're not doing a tax increase. getting $6 billion out of ethanol, and grover calls that a tax increase. neil: you think the time came to face the american people, tell them this sort of thing that we're up against romney exploited so cautiously. some think it's too late for that. do you buy that? >> no, i don't. everything can change in 30 days. you've watchedded this stuff. you know how it is....
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taxes for a typical middle-income family making $40,000 to $64,000 a year could go up by $2,000. >>> and california governor jerry brown signed a bill that would allow 500,000 young illegal immigrants who qualify for the new federal work permit program to obtain driver's licenses. >>> near hong kong, at least 36 people were killed when a boat filled with holiday partygoers collided with a ferry and sank. it is the deadliest accident there in years. >>> a house in oregon that was sold this summer turns out to have been a meth lab. and there are toxic chemicals there. contamination, 80 times the state limit. the family that bought the foreclosed home as is from the government got sick and now has few options. >>> and the white house is lit up in pink to mark october as breast cancer awareness month. new york's empire state building is also bathed in pink, and even buckingham palace in london got in on the action. they are going pink to support the breast cancer awareness campaign. >>> well, now here's your first look at this morning's dish of "scrambled politics." a company paid by the
taxes for a typical middle-income family making $40,000 to $64,000 a year could go up by $2,000. >>> and california governor jerry brown signed a bill that would allow 500,000 young illegal immigrants who qualify for the new federal work permit program to obtain driver's licenses. >>> near hong kong, at least 36 people were killed when a boat filled with holiday partygoers collided with a ferry and sank. it is the deadliest accident there in years. >>> a house in...
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out a deal on expiring tax cuts. the average hike would be $3,500 for middle income earners, a $2,000 increase. senate leaders say they are making progress on a plan. jack, you're a little boring. boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] with less chronic osteoarthritis pain. imagine living your life with less chronic low back pain. imagine you, with less pain. cymbalta can help. cymbalta is fda-approved to manage chronic musculoskeletal pain. one non-narcotic pill a day, every day, can help reduce this pain. tell your doctor right away if your mood worsens, you have unusual changes in mood or beh
out a deal on expiring tax cuts. the average hike would be $3,500 for middle income earners, a $2,000 increase. senate leaders say they are making progress on a plan. jack, you're a little boring. boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass....
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Oct 5, 2012
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, tax reforms on individual and corporate level. we need to take a look at things like education. interestingly, going back to the technology, we have a lot of americans out of work, but a lot of jobs in the technology field where we don't have enough skilled workers to fill them. maybe we need to look at education as well. >> read this quote from henry blodget, the business insider. here is what he said here. he said this is about our current system and philosophy. not sustainable. why not? they're creating a country of aful overlords and 300 million serfs, peasants. are you optimistic? will the middle class start rolling, bouncing back again? >> i'd like to say yes, i'm hopeful. but i think it really is going to -- i think this is going to take time and i think it is going to come down a lot to policies and regulations and what our tax structure looks like moving forward. i think it will come down to the political elections as well and what americans see for their future. >> morgan brennan, thank you. i'll go with you on the glass
, tax reforms on individual and corporate level. we need to take a look at things like education. interestingly, going back to the technology, we have a lot of americans out of work, but a lot of jobs in the technology field where we don't have enough skilled workers to fill them. maybe we need to look at education as well. >> read this quote from henry blodget, the business insider. here is what he said here. he said this is about our current system and philosophy. not sustainable. why...
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its own police force, no income tax, no sales tax, no capital gains tax to all the property tax and no federal regulation. it sounds good to me. the man behind it joins us now from honduras. you came on the show a year ago to discuss the idea of a free city and its thousand you have made progress. >> we made considerable progress. we expect we will be able to break ground within 30 days after the honduran government finalizes the legislation identifying the regions and also appointing a governor. john: already the honduran legislature passed the bill authorizing the general principles 126-1. they are behind it. >> incredibly popular. congress realizes the best hope for prosperity is to create a special development regions. model that the special development regions that have been so spectacularly successful in china which has cities scale special development regions. also dubai which had 110-acre region that had its own legal system that imported british common law "by international financial center which resulted in billions of dollars of capital flowing in and one of the greatest fin
its own police force, no income tax, no sales tax, no capital gains tax to all the property tax and no federal regulation. it sounds good to me. the man behind it joins us now from honduras. you came on the show a year ago to discuss the idea of a free city and its thousand you have made progress. >> we made considerable progress. we expect we will be able to break ground within 30 days after the honduran government finalizes the legislation identifying the regions and also appointing a...
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build on wednesday's debate mitt romney changes course on his criticism of americans who pay no income taxes. >>> i said something that was completely wrong. >> meningitis outbreak. health officials rush to alert patients who may have been exposed to the deadly disease that's killed five people in sickened dozens more. >> i don't want this thing in my body. i feel like i want a cleanser. i want it out. get out of my body. >> and bin laden drama. a tv movie about the raid that killed osama bin laden is set to air two days before the presidential election. this is the "cbs morning news" for friday, october 5, 2012. "cbs morning ne good morning. good to be with you. i'm terrell brown. mitt romney is changing his tune about those controversial remarks concerning 47% of americans. last may speaking at a florida fundraiser romney said 47% of americans paid no federal income taxes and considered themselves victims and will support president obama. romney originally stood by his remarks and described them as not elegantly stated but in an interview with fox news last night romney had a different exp
build on wednesday's debate mitt romney changes course on his criticism of americans who pay no income taxes. >>> i said something that was completely wrong. >> meningitis outbreak. health officials rush to alert patients who may have been exposed to the deadly disease that's killed five people in sickened dozens more. >> i don't want this thing in my body. i feel like i want a cleanser. i want it out. get out of my body. >> and bin laden drama. a tv movie about the...
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yes, we do. >> reporter: biden says the superwealthy need to pay more in taxes. romney says that would kill jobs. susan mcginnis, cbs news, washington. >> jobs will be the focus of both candidates today when the labor department released the september jobs report later this morning. >>> 91 people in seven cities
yes, we do. >> reporter: biden says the superwealthy need to pay more in taxes. romney says that would kill jobs. susan mcginnis, cbs news, washington. >> jobs will be the focus of both candidates today when the labor department released the september jobs report later this morning. >>> 91 people in seven cities
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be a 20% tax cut? >> i'm going to lower rates across the board for all americans by 20%. i want a 20% across the board reduction in taxes. the individual marginal tax rate 20% across the board. the top rate, for instance, would go from 35 to 28, middle rates would come down by 20% as well, all rates come down. >> president obama was just as surprised. >> well, for 18 months he's been running on this tax plan. and now, five weeks before the election, he's saying that his big, bold idea is never mind. >> but the etch a sketching did not stop there. governor romney who once believed financial regulation was hurting the economy -- >> dodd frank it's called, has not helped enterprise get going, it's slowed it down. >> now seems to be a supporter of wall street regulation. >> want to repeal dodd/frank? >> and replace it. we're not going to get rid of regulation. some parts of dodd/frank that make all of the sense in the world. >> and back in june, romney mocked the president's crazy ideas about needing more
be a 20% tax cut? >> i'm going to lower rates across the board for all americans by 20%. i want a 20% across the board reduction in taxes. the individual marginal tax rate 20% across the board. the top rate, for instance, would go from 35 to 28, middle rates would come down by 20% as well, all rates come down. >> president obama was just as surprised. >> well, for 18 months he's been running on this tax plan. and now, five weeks before the election, he's saying that his big,...
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tax cut. my plan is not to put in place any tax cut that will add to the deficit. my view is we ought to provide tax relief to people in the middle class but i'm not going to reduce the share of taxes paid by high income people. we have 23 million people out of work. or stop look for work in this country. >> eliot: here's how the obama campaign responded to some of the claims. with an ad released this afternoon that relied on fact checkers. >> mitt romney has not laid out specifics for how he would pay for his tax cut. he says it's by reducing deductions and closing loopholes but he hasn't said which or how many. so the verdict here the simply incomplete. >> eliot: by the way that 23 million unemployed claim is also incorrect. off by only eight million people. romney also attacked the president on the obama care issue. >> romney: cut $716 million from medicare to pay for it. i want to put the money back in medicare for our seniors. it puts in place an unelected board that's going to tell peopl
tax cut. my plan is not to put in place any tax cut that will add to the deficit. my view is we ought to provide tax relief to people in the middle class but i'm not going to reduce the share of taxes paid by high income people. we have 23 million people out of work. or stop look for work in this country. >> eliot: here's how the obama campaign responded to some of the claims. with an ad released this afternoon that relied on fact checkers. >> mitt romney has not laid out specifics...
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he wants to cut taxes, reduce regulations and streamline government. and looking at places from switzerland to singapore to dubai, you can see that being friendly to businesses and to tourists can produce an economic bonan bonanza. in some areas, like infrastructure, most agree that the government must act and the need is urgent. if you defer maintenance on your house, the house deteriorates and eventually you actually have to pay more. that is what we are doing with our infrastructure. rather than fix it now when borrowing costs are at historic lows, we are passing a much bigger bill to our children. as i mentioned earlier, the world economic forum ranks us 25th in the world in infrastructure, down from 5th only a decade ago. education may be more complex. just spending money isn't the answer. but the problem is clear. in the 1970s, america led the world in the number of college graduates. as of 2009, we're 14th among rich countries. and the jobs of the future will all require more education than in the past. or take federal funding for research and d
he wants to cut taxes, reduce regulations and streamline government. and looking at places from switzerland to singapore to dubai, you can see that being friendly to businesses and to tourists can produce an economic bonan bonanza. in some areas, like infrastructure, most agree that the government must act and the need is urgent. if you defer maintenance on your house, the house deteriorates and eventually you actually have to pay more. that is what we are doing with our infrastructure. rather...
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/ryan tax plan will raise taxes on middle-class families with a child, one or more children by an additional $2,000 a year. how -- all kidding aside, without the boos. stop all that malarkey. this is deadly ernest, man. this is deadly ernest. how they can justify -- how they can justify raising taxes on the middle class that's been buried the last four years. how in lord's name can they justify it? >> the romney campaign picked up on that middle class being buried for the last four years during which president obama was in the white house while campaigning in iowa. paul ryan did not miss the opportunity to seize on biden's choice of words. >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. of course the middle class has been buried. they're being buried by regulations. they're being buried by taxes. they're being buried by borrowing. they're being buried by the obama administration's economic failures. >> the romney campaign also chimed in on twitter writing agree with joe biden. the middle class has been buried the last
/ryan tax plan will raise taxes on middle-class families with a child, one or more children by an additional $2,000 a year. how -- all kidding aside, without the boos. stop all that malarkey. this is deadly ernest, man. this is deadly ernest. how they can justify -- how they can justify raising taxes on the middle class that's been buried the last four years. how in lord's name can they justify it? >> the romney campaign picked up on that middle class being buried for the last four years...
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what about this tax plan. is president obama obligated to supporters to point out to them that this is flawed? what do you think? >> i think the moderators are going e to ask governor romney about a lot of the things that you just talked about. i hope the moderator gives governor romney a chance to do what paul ryan said he didn't have time to do and that is explain how they pay for a $5 trillion tax cut. as you pointed out, ed, it is a time problem that is vexing in this budget. it's a math problem. they can't pay for it. if they can't pay for it, then they are going to raise taxes on the middle class. that's what the economic studies have shown. and look, i don't know anybody who thinks we're another tax cut for a millionaire away from a stronger middle class. that's just not how we have built our economy before and it's not how we're going to continue to make our country strong now. >> will president obama confront romney on these issues or rely on the debate moderator to do it? how aggressive will the pres
what about this tax plan. is president obama obligated to supporters to point out to them that this is flawed? what do you think? >> i think the moderators are going e to ask governor romney about a lot of the things that you just talked about. i hope the moderator gives governor romney a chance to do what paul ryan said he didn't have time to do and that is explain how they pay for a $5 trillion tax cut. as you pointed out, ed, it is a time problem that is vexing in this budget. it's a...
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plus, more people will be out of work because of the small business tax increases from obama care, so what mitt romney is going to talk about is appeal to how we can do so much better. we need to invest in small businesses in latinos and women and, you know, people who are coming to this country often are starting small businesses, and that's -- we can't be putting new taxes on those small businesses, and we need to have new health care. >> is he going to get -- >> will also help -- >> i'm sorry. is he going to be more specific on what type of loopholes he is talking about, exemptions, to offset these tax cuts that he is proposed to grow the economy. is he going to provide more specifics? >>. >> when president romney works on the economy and health care issues, he will do it in an open and transparent way. they've already said they want to have congress and everybody involved and when governor romney was governor in massachusetts, he worked with an 85% legislator -- legislature and was able to cut taxes over a dozen times while he was cutting spending, but did he it collaboratively, o
plus, more people will be out of work because of the small business tax increases from obama care, so what mitt romney is going to talk about is appeal to how we can do so much better. we need to invest in small businesses in latinos and women and, you know, people who are coming to this country often are starting small businesses, and that's -- we can't be putting new taxes on those small businesses, and we need to have new health care. >> is he going to get -- >> will also help --...
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he said he and his son calculated how much they pay in taxes, federal income tax, payroll tax, state sales tax, state property tax, gasoline tax, it added up to well over 50% of what they earned and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses says that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do, i bring down the tax rates, lower deductions and exemptions, the same idea by bowles-simpson, get the rate down to create more jobs. nothing better to create a balanced budget than having more people working, earning more money, paying more taxes, that's the most effective and efficient way to get the budget balanced. >> jim, you may want to move on to another topic. i would say this to the american people. if you believe we can cut taxes by $5 trillion and add $2 trillion of additional spending to the military that is not asking for, $7 trillion, to give you a sense, over ten years, that's more than our entire defense budget, and you think that by closing loop
he said he and his son calculated how much they pay in taxes, federal income tax, payroll tax, state sales tax, state property tax, gasoline tax, it added up to well over 50% of what they earned and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses says that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do, i bring down the tax rates, lower deductions and exemptions, the...
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cut, there will not be tax cuts, big tax cuts? >> it would reduce the rate and in all likelihood you would maintain the same amount of revenue and, of course, revenue grows and people have more confidence in the economy. they have more confidence in fairness and equity and that the rules are rules they can live with. >> governor o'malley, let me pick your brain as head of the democratic governors association. there are 11 governorships up. right now four of the eight that you're defending look like they could go to republicans. what's wrong here at the state level because the republicans look like they're maintaining and could pick up some of the governorships currently held by democrats. what's going on? >> well, actually we're being greatly outspent in virtually every state, and we are defending 11 states. some of them not in the friendliest of terrains for president obama, but as we saw last year in kentucky, a state that where the president did not prevail, our candidate was all about jobs, all about bringing people together t
cut, there will not be tax cuts, big tax cuts? >> it would reduce the rate and in all likelihood you would maintain the same amount of revenue and, of course, revenue grows and people have more confidence in the economy. they have more confidence in fairness and equity and that the rules are rules they can live with. >> governor o'malley, let me pick your brain as head of the democratic governors association. there are 11 governorships up. right now four of the eight that you're...
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a candidate says i'm going to lower the tax rates but i'm going to broaden the tax base. what you get is lower rates, you get a lot of the former, you get very little of the latter. because like bob says, once you start going into how you're going to broaden the base, then it's don't look at me, look at the other guy. so the danger of this tax reform trap that governor romney is trying to sell right now is that you're going to end up with massively lower tax rates and you're not going to broaden the base much at all such that you'll have an explosive budget deficit, it's very much what we saw in the bush supply side trickle down years. >> bob, debatess left. the vice presidential debate, the town hall presidential debate and then the debate on foreign policy. >> i think we throw out the myth that somehow or other only the first debates matter. i think the other debates will have big audiences. i'm through with the expectations game. i think vice president biden will do very well next week. i think the president will bring his best game to these next two debates. this guy
a candidate says i'm going to lower the tax rates but i'm going to broaden the tax base. what you get is lower rates, you get a lot of the former, you get very little of the latter. because like bob says, once you start going into how you're going to broaden the base, then it's don't look at me, look at the other guy. so the danger of this tax reform trap that governor romney is trying to sell right now is that you're going to end up with massively lower tax rates and you're not going to...
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the cut in tax rates. >> lowers all americans tax rates. >> how much does that cost? >> it's revenue neutral. >> it's not revenue neutral unless it takes away -- >> lowering tax rates by broadening the tax base -- >> you haven't given me the math? >> it would take me too long to go through all the math. >>> in massachusetts tonight, senator scott brown and his democratic challenge elizabeth warren face off in the second of four debates for that u.s. senate seat up there. david gregory will moderate it comes as new boston globe poll shows warren inching slightly ahead, 43% to 38%. still 18% of voters remain undecided there. the same poll conducted in may gave senator brown a two-point lead. >>> still ahead on "way too early," wow were the new york jets bad yesterday. shutout, blownout, injured on their home field. rex ryan's press game post conference the only highlight of the day. >>> and an incredible comeback by team europe at ryder cup. the united states entered sunday with a big lead and it's big guns on the course. we'll show you what happened in sports. all that
the cut in tax rates. >> lowers all americans tax rates. >> how much does that cost? >> it's revenue neutral. >> it's not revenue neutral unless it takes away -- >> lowering tax rates by broadening the tax base -- >> you haven't given me the math? >> it would take me too long to go through all the math. >>> in massachusetts tonight, senator scott brown and his democratic challenge elizabeth warren face off in the second of four debates for that...
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mitt romney talked about his tax plan. the president was trying to say was that you can't have a program of tax cuts and also increase in defense spending that adds up without drastic spending cuts. and that's one of the things people will be going after with mitt romney. also his claims about his health care plan and medicare. again, how exactly his plan would work out. but i think in particular, the question of the taxes and the budget and how that would affect people, when really put into pla place, that will be the main fact checking going forward. >> certainly both sides of this campaign, and there's certainly stuff in the papers today analyzing things that obama said that were untrue and what romney said were untrue. everybody has to take a fine tooth comb through the paper to go through that this morning. let's talk about romney's tax cut plan. he wants to cut everyone's rates by 20%. is it true that that would cost $5 trillion, yes or no? well, the question is, how do you shape it? the question for romney is not ne
mitt romney talked about his tax plan. the president was trying to say was that you can't have a program of tax cuts and also increase in defense spending that adds up without drastic spending cuts. and that's one of the things people will be going after with mitt romney. also his claims about his health care plan and medicare. again, how exactly his plan would work out. but i think in particular, the question of the taxes and the budget and how that would affect people, when really put into...
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bush tax cuts. he talks about raising defense spending. rejects a 10-1 ratio of spending cuts to tax increases. simpson-bowles, you mentioned him. they say the math simply doesn't add up in the romney plan and he won't tell us how he thinks it does. >> well, listen, the country is hungry for bipartisan compromise, david, i agree with you especially after the last four years of intense partisanship from this white house. and mitt romney is the only candidate in this race who has a record of showing he knows as an executive how to forge bipartisan compromise. as the governor of massachusetts, over 85% of his legislature was democrat, he made things happen. he will make things happen as president of the united states and will forge the right type of compromise to get this done and that's the way it's going to work. >> do you think this governor romney should be in a situation where he's actually prepared to deal with revenue, to raise revenue, to go against his party if it's part of a package that achi
bush tax cuts. he talks about raising defense spending. rejects a 10-1 ratio of spending cuts to tax increases. simpson-bowles, you mentioned him. they say the math simply doesn't add up in the romney plan and he won't tell us how he thinks it does. >> well, listen, the country is hungry for bipartisan compromise, david, i agree with you especially after the last four years of intense partisanship from this white house. and mitt romney is the only candidate in this race who has a record...
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pointing reporters to this 1993 vote that biden, then senator biden, made which basically increased the taxes on the benefits of social security for seniors. so that's a huge issue because obviously a lot of this plays to seniors in florida, florida, florida, florida, a battleground state there, which is why you hear the romney campaign pushing back against it so hard. deb? >> so much at stake. shannon travis for us there. boy, you know, the countdown, it's going to be very interesting day come election day. thanks so much, shannon. >>> president obama and mitt romney face to face as american voters weigh their choice. the first of three presidential debates will be on wednesday night. we will be here for you. watch it live. 7:00 p.m. eastern on cnn and on cnn.com. >>> well, extremists use violence to keep girls from getting an education, but at least one woman is braving the risks as she makes sure young girls in that country get into school. how can you get back pain relief that lasts up to 16 hours? with thermacare heatwraps. thermacare works differently. it's the only wrap with patented h
pointing reporters to this 1993 vote that biden, then senator biden, made which basically increased the taxes on the benefits of social security for seniors. so that's a huge issue because obviously a lot of this plays to seniors in florida, florida, florida, florida, a battleground state there, which is why you hear the romney campaign pushing back against it so hard. deb? >> so much at stake. shannon travis for us there. boy, you know, the countdown, it's going to be very interesting...
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. >> how they can justify raising taxes on the middle class that's been buried the last four years. >> the middle class in america is hurting. >> the middle class has been buried the last four years. >> kristen welker and peter alexander are with the obama and romney campaigns in these final hours before the first match-up, the debate tonight. we begin with kristen in nevada with the president. the president will travel to colorado in just a matter of hours. good morning. >> good morning. that's right. president obama will take off for denver in just a few hours. i'm told he'll have a little bit of down time with the first lady before the debate. he'll also do a walk through of the venue. here's how it's going to work. president obama will be given the first question. mitt romney will have the final word tonight. the debate will be broken up into six 15-minute segments for a 90-minute debate. it will include three on the economy, one on health care, one on governing and one on the state of government. the role of government, i should say. now, both candidates will be standing at podiu
. >> how they can justify raising taxes on the middle class that's been buried the last four years. >> the middle class in america is hurting. >> the middle class has been buried the last four years. >> kristen welker and peter alexander are with the obama and romney campaigns in these final hours before the first match-up, the debate tonight. we begin with kristen in nevada with the president. the president will travel to colorado in just a matter of hours. good...
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they can justify raising taxes on the middle class that's been buried the last four years. >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. that means we need to stop digging by electing mitt romney the next president of the united states! >> today, heavy hitters are fighting back. senator marco rubio just now in denver. >> the last four years the american middle class has been buried. those aren't my words. those happened to be the words of the distinguished vice president of the united states, mr. joe biden. no, don't boo. he's the best thing we got going, guys. >> and how's this for trail mix? mitt romney got more than he bargained for when he posed at chipotle after ordering a burrito bowl in a photo op that's an internet sensation. good day, andrea mitchell live in denver at the site of tonight's presidential debate, the first time in five years that barack obama and mitt romney are going to be face-to-face in what the local newspaper is headlining as the duel in denver. joining me now for our daily fix, chris cizi
they can justify raising taxes on the middle class that's been buried the last four years. >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. that means we need to stop digging by electing mitt romney the next president of the united states! >> today, heavy hitters are fighting back. senator marco rubio just now in denver. >> the last four years the american middle class has been buried. those aren't my...
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>> he said for everybody, across the board. >> on top of the bush tax cuts? >> president obama during the debate said he is the one who is going to raise taxes by letting the bush tax cuts expire. >> but we just played two things back to back that do not match. >> look, he said all look, 20% across the board. i think there were two different things he was speaking about there. he has a very pro-growth policy. he has a policy to create 12 million jobs. >> so are you saying he misspoke in one of those? >> i'm not going to get into whether he misspoke or not -- what i know is he has said all along, 20% across the board for everybody, and that means everybody. to what specifically he was speaking there, i'm not exactly sure. but it's a clear choice what you have. we don't need to get caught up on the back and forth. he is going to put forward pro-growth jobs. and 7.8% is an anemic recovery. that is nothing to celebrate. i remember when president bush was criticized by president obama when i worked for him -- >> but for the past four years, republican have said sa
>> he said for everybody, across the board. >> on top of the bush tax cuts? >> president obama during the debate said he is the one who is going to raise taxes by letting the bush tax cuts expire. >> but we just played two things back to back that do not match. >> look, he said all look, 20% across the board. i think there were two different things he was speaking about there. he has a very pro-growth policy. he has a policy to create 12 million jobs. >> so...
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taxes are 15% of all the nations income, but you can affected. most people are rational not to do anything about. so in the way it doesn't matter to people because they can't affected it but i take it our broad effort to overcome the. so does become rational to pay attention to what's happening in concrete a more casual talk about this is to compare the quality of information that you get a different section of the newspaper. if you go to the webpage, you get charts and data and graphs that people turn to everyday and it tells them something any about their lives. if you go to the financial pages, you get david and charts and graphs that tells him about their investments. go to the sports page and you get intricate data about sports i care nothing about, but evidently somebody does. and you see the quality of data that's a bit of an ordinary newspaper, and then you turn to the national section of the newspaper and you get republicans are gunning for a fight, and senator so-and-so is a real go getter. that's not information people can use. in the
taxes are 15% of all the nations income, but you can affected. most people are rational not to do anything about. so in the way it doesn't matter to people because they can't affected it but i take it our broad effort to overcome the. so does become rational to pay attention to what's happening in concrete a more casual talk about this is to compare the quality of information that you get a different section of the newspaper. if you go to the webpage, you get charts and data and graphs that...
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of all of that money going to the super wealthy. >> so, are promises of massive tax hikes, taxing the jobs market? hi, everyone, i'm brenda buttner, this is bulls and bears, here they are, bulls and bears this week, gary b smith, tobin smith, jonas max ferris, along with julian epstein and larry, talk about future tax hikes, holding back a jobs recovery? >> that's right, that's right, brenda. well, you know, certainly for consumers that are work being that have 401(k) plans they may be feeling more confident these days, but their employers don't share the optimism. they're worried what's ahead and what's ahead are future tax increases, for small business owners still, these are people that own delis and dry cleaners and pave your driveways, not fat cats and million fairs and billionaires, they're average work people and concerned about the environment. and national independent business owners a record number of people. a bad time to start a business and a bad time to hire people. and that's not going to inspire jobs in this country, which is exactly what we need right now. >> okay, cl
of all of that money going to the super wealthy. >> so, are promises of massive tax hikes, taxing the jobs market? hi, everyone, i'm brenda buttner, this is bulls and bears, here they are, bulls and bears this week, gary b smith, tobin smith, jonas max ferris, along with julian epstein and larry, talk about future tax hikes, holding back a jobs recovery? >> that's right, that's right, brenda. well, you know, certainly for consumers that are work being that have 401(k) plans they may...
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>>> you like taxes? i've got taxes for you. christine romans is here to talk about the very serious issue of the fiscal cliff and what it means for your bottom line. literally your bottom line. plug for your show. >> the bottom line is you're going to pay more in taxes next year either because you'll go off the fiscal cliff or because payroll tax is going to expire. taxes are likely rising next year. >> real numbers for people who make certain amounts of money. >> this is the fiscal cliff only. if you make $20,000 to $40,000, your taxes will go up, $1,231. move out with me, $40,000 to $64,000 a year, a $2,000 tax bill right there. $2,000. $64,000 to $108,000, 3,500 more in taxes you're going to pay. take a look at $108,000 and up, another $14,000 in taxes. you can see the more money you take, the more you're going to pay in taxes if the u.s. goes over the fiscal cliff. what's a fiscal cliff? it's a huge tax increase, huge tax increases and huge spending cuts that hit at beginning of january. the bush tax cuts would go away, the
>>> you like taxes? i've got taxes for you. christine romans is here to talk about the very serious issue of the fiscal cliff and what it means for your bottom line. literally your bottom line. plug for your show. >> the bottom line is you're going to pay more in taxes next year either because you'll go off the fiscal cliff or because payroll tax is going to expire. taxes are likely rising next year. >> real numbers for people who make certain amounts of money. >>...
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. >> i would rather have my tax dollar going a family buying stuff at costco and bulk. >> jon: right, because this is america, jack! if uncle sam is paying for the meal, uncle sam gets to tell where you to eat. oh! i just forgot, i don't make any [bleep] sense! the story actually came to light because it is kind of a fini parody music video made by some high-school students that even included some much younger students singing along in kansas where they decried the new federal guidelines and even burned the legislation. kids taking a strong political stand. pretty sophisticated stuff. >> the parody school was actually written by an english teacher at the school. (laughter) >> jon: oh, a teacher wrote a song that the children including what appear to be elementary schoolkids performed against the government. i wonder how fox is going to take this. i don't mean their pundits, i mean their news people. >> cafeteria revolt, the new school lunch program that has left students starving. >> in kansas some kids and a teacher came up with a parody, a video turning the song we are young into we
. >> i would rather have my tax dollar going a family buying stuff at costco and bulk. >> jon: right, because this is america, jack! if uncle sam is paying for the meal, uncle sam gets to tell where you to eat. oh! i just forgot, i don't make any [bleep] sense! the story actually came to light because it is kind of a fini parody music video made by some high-school students that even included some much younger students singing along in kansas where they decried the new federal...
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how in lord's name can they justify raising their taxes with these tax cuts? >> a tweet from mitt romney says this, agreed with @joe biden, the middle class has been buried last four years which is why we need a change in november. let's bring in chief political analyst gloria borger. channel in vice president joe biden right now. what was he trying to say obviously didn't come across as he clearly would like. >> well, what he was clearly trying to say and the obama campaign was quick to point this out is that what he was trying to say is that the middle class was buried urntd george w. bush and that's what started the problems for the middle class and that the obama administration has started to pull it out by its boot straps. and so the obama campaign just in case we didn't get that has a statement that says that the romney campaign is taking this entirely out of context. it's obviously in looking at the full transcript that joe biden was talking about the fact that the middle class was buried under failed bush policies. and of course they say romney/ryan wo
how in lord's name can they justify raising their taxes with these tax cuts? >> a tweet from mitt romney says this, agreed with @joe biden, the middle class has been buried last four years which is why we need a change in november. let's bring in chief political analyst gloria borger. channel in vice president joe biden right now. what was he trying to say obviously didn't come across as he clearly would like. >> well, what he was clearly trying to say and the obama campaign was...
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and he opposes any new taxes. so on health care, he's kind of pulling up the ladder after him and his state. he's saying that he opposes universal health care at the federal level but he will not give states money they need to get it done at the state level. so under his plan there's no way to get universal health care done at all. but he doesn't really want you to know that. joining me now is jonathan gruber one of the folks who helped mitt romney design his health care law in massachusetts. it's great to see you. >> good to be here, ezra. >> you know these numbers for this plan, anything you want to fact check, correct or complicate here. >> no, you described it very well. i think what candidate romney is not owning up to is the fact that the federal government made our plan possible. they gave us the seed money, if you will, more than seed, more than half the money we needed to make it possible and the rest came from a tax that was already imposed on the state that mitt romney essentially rededicated to his eff
and he opposes any new taxes. so on health care, he's kind of pulling up the ladder after him and his state. he's saying that he opposes universal health care at the federal level but he will not give states money they need to get it done at the state level. so under his plan there's no way to get universal health care done at all. but he doesn't really want you to know that. joining me now is jonathan gruber one of the folks who helped mitt romney design his health care law in massachusetts....
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. >> how they can justify raising taxes on the middle class that's been buried the last four years. >> reporter: paul ryan said the middle class has been buried. >> they are being buried by the obama administration's economic failures. >> reporter: the obama campaign said ryan took mr. biden's words out of context. the president will have the first word tonight, mitt romney will have the last. >> susan, thank you. this is where you can watch tonight's debate. our coverage begins at 9:00 p.m. eastern right here on cbs. meanwhile off the campaign trail conservative blogs were buzzing about fox news recent airing about a 2007 speech by a then senator obama before a black audience. he expressed suspicion the federal government was withholding recovery money to new orleans after hurricane katrina. >> when hurricane andrew struck in florida people said look at this devastation. we don't expect to you come up with the almighty money. here's the money. we won't wait for you to scratch it together because you're part of the american family. what's happening down in new orleans? where is your d
. >> how they can justify raising taxes on the middle class that's been buried the last four years. >> reporter: paul ryan said the middle class has been buried. >> they are being buried by the obama administration's economic failures. >> reporter: the obama campaign said ryan took mr. biden's words out of context. the president will have the first word tonight, mitt romney will have the last. >> susan, thank you. this is where you can watch tonight's debate. our...